Mr. Realtor, What Is Your Marketing Strategy To Get My Overpriced House Sold???

     I went to the hair stylist yesterday.  She asked me,"What do we want to do today?".  Make me look like I am 25.", I replied.  She retorted," I am a beautician, not a magician." .

     If you are a Realtor, do you have any over priced listings that won't sell?  The property gets shown by you and other Realtors.  The potential buyers buy a competitive house that they consider a better buy.  Your client wants to know why no one is buying his house.  Your client wants to know what you are doing wrong.  Your client wants to know what your strategy is to get his house sold. Your client wants to know what is wrong with you.

     It is no wonder so many Realtors suffer from low self esteem.  My client wants to believe and wants me to believe that there is something wrong with me because I can not sell his $350,000 house for $385,000.

     Fortunately, I know it is not my fault.  It is my fault that I can not convince my seller to lower the price to what the property is worth.  I can try to be more convincing when I ask the owner to lower the price.  If I could only find that "rich dumb out of towner" that doesn't care about comparable sales in the neighborhood that forsalebyowners are always telling me is out there in the marketplace.  Alas, I can not find him.

     I have been selling real estate long enough to know that I can only do so much to convince owners that the market is talking to them.  Father Time and their wife are so much more effective than I am.

     If your house is listed with a Realtor anywhere in America and it has been listed for more than six months, it is overpriced.  You can believe that now or you can wait six more months to start believing it.

     See that picture.  How much advertising and marketing would it take to sell that item in the picture

I can not sell this or your house for more than it is worth

for $19.99 ?   It would not take much marketing to get it sold.  How much marketing and advertising and salesmanship would it take to sell that item for $20.25 ?   I submit that no amount of marketing would sell it for $20.25.

     I don't make the rules.  I understand the rules.If your house has been for sale longer than you would like, maybe the problem is simple.  It is overpriced. The solution is equally simple.  Price it right. 

     Another frustration that can be avoided by proper pricing is when some extra ordinary Realtor does find a buyer willing to pay the list price, the house has to be appraised by the appraiser from the bank.  When the bank appraiser says the contract price is fifteen thousand more than he believes the house is worth, we have two choices.  We can lower the price to the appraiser's price or we can convince the buyer to sign a form that states that he is certified stupid and is willing to pay more for the house than an expert says it is worth.  Often, Mr.  Realtor can convince the buyer to pay the the overage IF he has the cash to pay it with.  That is more often than not too big of an IF.  Mr. Buyer does not have the cash.  The bank loans based on the appraiser's value or the price whichever is lower.  

     Now, that buyer goes away and we are right back where we started.  We have an overpriced house for sale.  Should we lower the price to what the bank appraiser says it is worth?  Should we continue to market it at a price that has proven to be too high?   

www.ronclimer.com